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(KPL/Yonhap) Lotte Biologics Co., the biotech arm of Lotte Group, said Thursday it has signed a contract with British biotech startup Ottimo Pharma for the production of an antibody drug substance.
(KPL/Yonhap) Lotte Biologics Co., the biotech arm of Lotte Group, said Thursday it has signed a contract with British biotech startup Ottimo Pharma for the production of an antibody drug substance.
The deal was signed during the annual BIO International Convention that began Monday (local time) in Boston, according to Lotte Biologics.
The company did not disclose the financial terms of the contract.
Under the agreement, the South Korean company will manufacture the drug substance for Jankistomig, a bi-functional antibody developed by Ottimo Pharma to treat solid tumors, at its production facility in Syracuse, New York.
Lotte Biologics said the deal is part of its broader push to expand its presence as a global contract development and manufacturing organization (CDMO).
"This agreement highlights our competitiveness as a global CDMO in the antibody drug market," said James Park, chief executive officer (CEO) of Lotte Biologics.
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